muhanad al tayar

STUDY OF IFRS ADOPTION AT M&S This study compares IFRS adoption practice at M&S with key literature and also provides compares pre and post IFRS figures of financial indicators Student Name: MUHANAD SAUD ALTAYAR 22-8-2011 Student ID Number: 17007542 A Project submitted in partial fulfilment of the Requirements for the degree of MSc (Social Sciences) MS INTERNATIONAL ACCOUNTING AND FINANCIAL MANAGEMENT by instructional Course. Word count: 10,600 Introduction The scope of this study is to analyse the effects of adoption of IFRS upon the accounting figures of Marks and Spencer and to find important academic relevance of this change. It is only investigative in this respect and does not expand towards the market response of this adoption. It is not prescriptive in recommending any standard i.e. UK GAAP or IFRS. However the author feels that such a huge change warrants some discussion in relation to adoption of IFRS across the world. As all listed EU companies are required to prepare their consolidated financial statements in accordance with IFRS for years beginning on or after January 1, 2005 (Regulation (EC) 1606/2002). Accounting standards provide a set of rules for maintaining accounts and presentation of business activity through such accounts. Accountants and managers thus may be better off by producing information in such a manner that is preferred by investors thus reducing the cost of capital for the firm thus adding bias to presentation, though it may be still not more beneficial for the society on the whole. (Jacob & Nadu, 2009) There have been three key areas identified to study the effect of changes brought in by IFRS which include share based payment, intangibles and property, plant and equipment. Adoption of fair valuation and impairment is also studied within. Towards the end it also looks into the changes in some important financial indicators.

AWARDS IN ONE SEMESTER AS I WAS ONE OF THE BEST THREE STUDENTS IN THIS SPECIFIC TERM